Wednesday, April 3, 2013

UPDATE: Penthouse at The Pierre

YOUR MAMAS NOTES: As expected and previously reported by Your Mama and just about every otherproperty gossip on the planet, the decadently decadent triplex penthouse of late financier Martin Zweig has finally arrived on the open market with a publicity ensuring $125,000,000 price tag and eight lush listing photographs but—alas—nary a floor plan.

Mister Zweig purchased the palatial penthouse in 1999 for a then record breaking $21,500,000.

Current online listing details confirm Mister Zweig's epic, quixotic and downright legendary three floor building topper has: 16 rooms on three floors linked by a private elevator; an impress-the-guests 5-star style staircase plus a private rear staircase for family and staff; a grandiose, hangar-sized living room and several more intimate but still grand reception rooms plus separate private family quarters; five en suite bedrooms and a total of six full and three half bathrooms; five fireplaces; four terraces with 360-degree city and park views; and two dedicated building staffers who provide daily maid service partially paid for by the astronomical $31,908 monthly maintenance charges.

Mister Zweig, a man of almost unlimited means who made a fortune when he predicted the 1987 crash of the stock market, was also an author of books on how to win in the financial marketplace, a television pundit and well-known collector of cultural memorabilia. One of the many children who contacted Your Mama about this triplex listing over the last few days—let's call him Ernie Eagle'eyes—pointed out that within one of the many glass display cases that line the towering walls of the exceedingly capacious mid-floor living room (and can be seen in current listing photos and those published by The Old Gray Lady herself last weekend) there appears to be a white suit that once belonged to Elvis Presley.

Mister Zweig's extensive collection also includes gold records by the Beatles, several athletic jerseys worn by iconic professional athletes, a few electric guitars and—as again pointed out by Ernie Eagle'eyes—the famous and famously skin tight beaded gown that Marilyn Monroe had to be sewn into in May 1962 before she gave her breathy and historic rendition of the "Happy Birthday" song at Madison Square Garden for President John F. Kennedy. It appears Mister Zweig may have purchased the dress at auction in 1999 for more than $1.26 million.

One of Your Mama's contacts who toils within the high nosed and rarefied air of the uppermost end of the Manhattan real estate milieu told us that he thinks this place could easily fetch $90,000,000. We shall see. What do the children think? Discuss.

UPDATE LATER SAME DAY: All the children can thank a little birdie name Tony Newyawk who told Your Mama about a December 2006 article in The New York Times—when Mister Zweig has his titanic triplex on the market at $70 millions—that gives an extensive and thrilling history of the so-called "Chateau in the Sky." A must read for anyone who gives a single real estate whit about this apartment.

27 comments:

Mama already posted that floorplan in her original post. It's clearly not current if you read the description of the place.

I just don't get it. First off. Worth 6 times what he paid. No wonder the rich are getting richer. Someone who about a $250,000 house in 1999 can't sell if for $1.5m now days. Ridiculous.

I think its very odd and therefore may cammand much less than this hope. There are only so many Russian's looking for a tax shelter. Many of the other trophy props in Manhattan listed around the $100m mark have failed to sell.

Interesting apartment... If i purchased it, I would move the master bedroom to the top floor, make the entire middle floor the living / dining / kitchen entertainment spaces, and have the lowest floor done out as private family quarters.

If there is no Co-Op approval needed (is there?), that would open up a huge potential buyer base for this trophy property. Lots of square footage for help, multiple wives, security... They just may get their price or close to it.

fabulous but it will be hard for the oligarchs to get approved by the co op board. that eliminates a huge chunk of prospective buyers. without the co op board, i believe it could fetch full asking price.

Thought I would take a look below, at the Pierre itself. I found a pretty seedy situation. No decent restaurant; a website with pictures that don't appear; very ordinary looking rooms; a list of other hotels owned by the chain, called Taj Hotels or something. I wonder if Mr Zweig ever used any of the services of the hotel he sat on.

I agree -- nevertheless, it is the Pierre, and despite its current ownership, and perhaps less than perfect condition, it has a history and an undeniable cachet that will appeal to some high rollers; not old money, mind you, but those looking to acquire that particular patina.

Yeah, I would not leave a dollar in American banks if I did not live here, this is one of the most thieving governments I have ever seen in my life. I have everything in trusts and LLCs and I still don't feel safe.

Can you get a normal goddamn captcha thing that does not require me to goddamn refresh it 15 effing times so that I can find one legible enough to actually read and type in? Thank you.

I gleefully admit to being as naive as Spongebob and LGB knows more than I ever will in these matters. So please, this is no shady dish but: 'a hefty $25M reno'.I would think before the previous owner put all kinds of fancy fancies in there, the systems were updated.The big room, is the draw and looks untouchable (other than furnishings and paint). The dorm sized rooms on the other 2 floors are metal framing and drywall(kinda cheap stuff).Yes, it sits atop a NY (near/almost/on the verge of) luxury hotel.That said, I'm a fair DIY'r (in my mind) and could strap on a tool belt and do it for a 25th of that budget AND over a long weekend.

I also thought that is a Mary Cassatt, and wonder if that's not a Picasso in one of the pictures. Of the ghastly properties the gauche wealthy buy & sell, this one is refreshing.I think the place is gorgeous- super impressive and liveable at the same time. Mr. & Mrs. seem like nice people as well. Re. renovations, take another look at the lighting. Indirect, custom to furnishings, must be a zillion miles of wire interwoven.

Ernie Here: I did some more research and discovered the yellow guitar belonged to Prince and other to Eddie Van Halen. The motorcycle is a reproduction of the Captain America chopper from the film Easy Rider. The case in the office has a robe belonging to Rocky Marciano or a prop from the Rocky film. Thanks Mama.

Looking at the photos the NY Times posted, I also see there is a photo from the James Bond film "From Russia with Love". It is the iconic photo of Sean Connery holding the famous Walther air pistol. I really hope what is on that little dark pedestal table is that pistol. It recently sold at auction for 121, 250 GBP. -Ernie

I just want to make sure I understand the logic - they couldn't sell it a couple of years ago for 70 million dollars, so now they want to sell it for 125 million dollars. k, as long as we're making sense here. :)